tds
This query is : Resolved
10 June 2011
hi
sir my query is that if PAN no not quouted in Bank and interest of fd less than 10000/- in this case TDS is applicable or not . plz clear.
sir my query is that if PAN no not quouted in Bank and interest of fd less than 10000/- in this case TDS is applicable or not . plz clear.
CA PARAS BAFNA
(Expert)
10 June 2011
Where Interest amount is less than 10000/- banks are not required to deduct TDS and such PAN No is not required.
However, at the time of opening account according to KYC norms , PAN no of the customer is obtained by them.
However, at the time of opening account according to KYC norms , PAN no of the customer is obtained by them.
CA M. ASIF FAROOQUI
(Expert)
10 June 2011
NO IF THE AMOUNT OF INTEREST PAYABLE BY BANK IS LESS THAN RS.10000,NO TDS WILL BE DEDUCTED WHETHER PAN IS FURNISHED OR NOT.....
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